We paid the fees and added the required safety features, painted the exterior, repaired the back deck, made repairs to the upstairs kitchen and added a sump pump with drainage in the basement due to flooding issues.

I really like the alerts feature that can quickly guide you to current topics that may be of interest: http://www.biggerpockets.com/alertsThere are a few self-contained guides that you can access here: https://www.biggerpockets.com/guides

Conventional max LTV's:  1-unit 95%, 2-unit 85%, 3-4 unit 80%.So if this is a 3-4 unit, you would need to be at 80% LTV and there wouldn't be PMI.Also if your income is below the income cap for the program, Conventional Home Possible is coming back on 11/15, which allows up to 95% LTV for a 2-4 unit.Check with your loan officer on your options.Hope that helps, best of luck!

I tried simply subtracting 80k from the principle and running the Calculator over a 29-year mortgage, but that can't be it because that 80k includes expansive ( cap-ex, Management fees, ext,) that don't go to the principle.any help is appreciated. thanks, y'all    

I would look at what the norms are in your area in terms of features and condition and then look for the EASIEST things you can do to bring your property to be in similar condition.

There are a few self-contained guides that you can access here: https://www.biggerpockets.com/guidesI really like the alerts feature that can quickly guide you to current topics that might interest you: http://www.biggerpockets.com/alerts

It’s taxed as ordinary income, plus ss/med self employment tax....not eligible for a 1031 or cap gains. 

This is a great forum with very knowledgeable members that will help to guide you in the right direction.If you haven’t checked it out already, the Bigger Pockets blog features links to their awesome podcast and many great articles: https://www.biggerpockets.com/renewsblog/I really like the alerts feature that can quickly guide you to current topics that might interest you: http://www.biggerpockets.com/alerts

There are some pretty cool discounts on various products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/proI really like the alerts feature that can quickly guide you to current topics that might interest you: http://www.biggerpockets.com/alerts

With putting 3.5% down with FHA, I'd say you'd want to probably cap your amount at around $750-800K because you also have to take into consideration your other closing costs.